WARNING:
This Digest was prepared for debate. It reflects the legislation as
introduced and does not canvass subsequent amendments. This Digest
does not have any official legal status. Other sources should be
consulted to determine the subsequent official status of the
Bill.

The present Bill forms part of a package of nine proposed laws.
This package collectively constitutes the Commonwealth's
legislative response to a unanimous request from the State and
Territory Governments to protect their revenues following the High
Court's decisions in Ha & Another v State of New South
Wales & Others and Walter Hammond & Associates Pty
Limited v State of New South Wales and Others.

A detailed 'background' is provided in the Bills Digest for the
Franchise Fees Windfall Tax (Collection) Bill 1997.

Under the post Ha and Hammond safety net
arrangements, there will be uniform increases in existing
Commonwealth taxes on liquor, petroleum products and on tobacco and
tobacco products. All funds raised by the Commonwealth (net of
administrative expenses) are to be returned to the States and
Territories.

The present Bill provides for customs duty on tobacco and
certain tobacco products to rise from $84.27 per kilogram to
$251.27 per kilogram.

Similarly, the rate of duty applying to imported petroleum
products currently dutiable under the Customs Tariff Act
1995, is to be increased. The increase in the rate of duty on
petroleum products is 8.1 cents per litre.

Bob Bennett
2 September 1997
Bills Digest Service
Information and Research Services

This Digest does not have any official legal status. Other
sources should be consulted to determine whether the Bill has been
enacted and, if so, whether the subsequent Act reflects further
amendments.

IRS staff are available to discuss the paper's contents
with Senators and Members and their staff but not with members of
the public.

Except to the extent of the uses permitted under the
Copyright Act 1968, no part of this publication may be
reproduced or transmitted in any form or by any means, including
information storage and retrieval systems, without the prior
written consent of the Parliamentary Library, other than by Members
of the Australian Parliament in the course of their official
duties.

Published by the Department of the Parliamentary Library,
1997.

This page was prepared by the Parliamentary Library,
Commonwealth of Australia
Last updated: 3 September 1997